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IBM interview questions for designations
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A type of obligation that a company or individual owes to another party.
Liability refers to the legal obligation to pay debts or fulfill other obligations.
It can be classified as current or long-term, depending on the time frame for repayment.
Examples include accounts payable, loans, and taxes owed.
Liabilities are listed on a company's balance sheet and are an important factor in determining financial health.
Debit represents incoming funds while credit represents outgoing funds.
Debit is used to record an increase in assets or a decrease in liabilities or equity.
Credit is used to record a decrease in assets or an increase in liabilities or equity.
For example, when a company receives cash from a customer, it would debit cash and credit accounts receivable.
Conversely, when a company pays a supplier, it would credit cash and d
I applied via Referral and was interviewed before Mar 2021. There was 1 interview round.
I appeared for an interview in May 2022.
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